This week's 13D filings that had the terms "undervalued" or "attractive investment" found in the Purpose of Transaction. This is a new feature we've added to the 13D filing database on the site.
We are not familiar with these companies nor the filers - if anyone is, please feel free to provide your thoughts in the comments section. Have a great weekend!
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This week's 13D filings that had the terms "undervalued" or "attractive investment" found in the Purpose of Transaction. This is a new feature we've added to the 13D filing database on the site.
We are not familiar with these companies nor the filers - if anyone is, please feel free to provide your thoughts in the comments section. Have a great weekend! Activist hedge fund Starboard filed a 13D Amendment today, disclosing purchases of more Box shares. One of the purchase tables from the 13d/a is included below. Back in spring of 2020, Starboard reached an agreement with Box and took 3 board seats. There have been rumors of consolidation in the industry which includes competitor Dropbox.
Based on Starboards latest 13F filing Box was its 11th largest position, out of 19 positions. This week's 13D filings that had the terms "undervalued" or "attractive investment" found in the Purpose of Transaction. This is a new feature we've added to the 13D filing database on the site. We are not familiar with these companies nor the filers - if anyone is, please feel free to provide your thoughts in the comments section. Have a great weekend! Information provided on 13dfiling.com or in this email does not constitute investment advice nor an offer to sell securities. The information provided on 13dfiling.com or in emails is for research purposely only and we do not take any responsibility for any loss or damage including and without limitation to any loss which may arise directly or indirectly from use of or reliance of such information. We do not confirm the accuracy of any information and users should do their own diligence before making any investments.
How to replicate hedge fund investments, leverage their influence & work to make profits Below is a general and crude aggregate of 100s of investments made by 10 prominent activist investors and hedge funds. The performance is measured from the time the investors made their purchases according to the associated 13D filing (required SEC ownership disclosure for owners >5%). For a blind general aggregate, the results in figure 1 are indicative of the potential for investing alongside hedge funds who in many cases have an agenda to unlock value in the target company. We have found that using 13D filings as an idea generation tool can be powerful – however there is a need to tediously sift through many filings daily, sorting and analyzing to separate the noise from the meaningful opportunities. This is why we created 13dfiling.com, first as a tool for our own strategy and 2nd as a way to open it up to fellow investors to help spread the cost of building the system and to continue making it more powerful for our mutual benefit. 13D Filing Tools Overview: Customized Alerts: Subscribers get customizable real time email alerts when hedge funds make 13D filings with the SEC (Figure 3. Sample Alert). Alerts include key data points and you can create your own filters depending on what you want to follow (Figure 2: Filter Dashboard). Enhanced 13D Filing Database with Mined Data: View, sort and filter filings based on mined data. Investor purchase price relative to current market price and mentions of key works within filing - “undervalued” or “attractive investment” mentioned in the Purpose of Transaction). Example screenshot in Figure 4 Following the disclosure Janus has gone on to rise 50% as of December 31, 2020 from the last purchase price in the 13D filing: One might be curious about what other active investments Trian has recently made 13D filings for. With database search we can look that up: The results show that Trian made another filing on the same day for Invesco Ltd. In the Purpose of Transaction sections of both filings Trian mentions conversations with company management and Trian’s intention to discuss strategic combinations such as mergers, acquisitions or consolidations. Fueling speculation on Wall Street that Trian will be pushing the two companies to merge. Invesco’s share price performance following the filing has been similarly positive in the subsequent 2 months. Sign up for our Plus subscription to get access to the mined 13D filing database shown above.
Another strong year for Baker Bros investments. New investments (that were greater than 5% of the company requiring a 13D filing) are shown below. The above is from our 13dfiling.com database. Users have access to search and sort the database.
Following up last week's 13D filing on Green Dot, Starboard Value and its affiliates have taken a 7.5% stake in medical solutions company MEDNAX, Inc.(NYSE: MD).
Starboard included the following language in the "Purpose of Transaction" section of the 13D filing: "The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity." According to the 13D filing, Starboard's average purchase price thus far has been ~$25.25 per share. Sign up to get free 13D Filing alerts, new filter options available. Disclaimer: Information provided here or in email alerts does not constitute investment advice nor an offer to sell securities. The information provided is for research purposely only and we do not take any responsibility for any loss or damage including and without limitation to any loss which may arise directly or indirectly from use of or reliance on such information. The writer of this article does not at the time of writing have a position in MD, but may potentially purchase or dispose of shares pending further analysis and market conditions. Today Pershing Square Capital Management filed an amended 13D disclosing:
“On February 6, 2020 and February 7, 2020, the Reporting Persons on behalf of the Pershing Square Funds sold Common Stock for portfolio management purposes in open market transactions.” Link to the filing here. Activist target Forescout Technologies (NASDAQ: FSCT) shot up 20% on Thursday following news that it entered into an agreement with private equity firm Advent International to be acquired for $33.00 per share.
On October 21, 2019 activist hedge fund Corvex Management run by Carl Icahn protégé Keith Meister filed a 13D Filing disclosing a 7.2% stake in the FSCT. Corvex invested alongside Jericho Capital. Based on the initial 13D filing, Corvex’s average purchase price for FSCT was ~$30.13 per share. On the day of the public filing FSCT closed at $28.70. On Feb 6, 2020, the day of the acquisition announcement the stock shot up and closed at $33.28 per share – an annualized increase of 54%. You can sign up here to receive email alerts as soon as 13D filings are made. Disclaimer: Information provided here or in email alerts does not constitute investment advice nor an offer to sell securities. The information provided is for research purposely only and we do not take any responsibility for any loss or damage including and without limitation to any loss which may arise directly or indirectly from use of or reliance on such information. The writer of this article previously had a position in FSCT, but at the time of writing is message no longer holds any positions in FSCT. The writer may or may not potentially purchase shares pending further analysis and market conditions. Starboard Value and its affiliates has taken a 9.3% stake in fin tech company Green Dot Corporation (NASDAQ: GDOT).
Starboard included the following language in the "Purpose of Transaction" section of the 13D filing: The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. According to the 13D filing, Starboard's average purchase price thus far has been ~$26.4 per share. Disclaimer: Information provided here or in email alerts does not constitute investment advice nor an offer to sell securities. The information provided is for research purposely only and we do not take any responsibility for any loss or damage including and without limitation to any loss which may arise directly or indirectly from use of or reliance on such information. The writer of this article does not at the time of writing have a position in GDOT, but may potentially purchase or dispose of shares pending further analysis and market conditions. |
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